Torrent Pharma's Q1 FY22 profit rose 2.8 per cent to Rs 330 crore on a year-on-year basis, while its revenue jumped 4 per cent to Rs 2,134 crore.
The company's gross margins stood at 72.4 per cent, while EBITDA margins were at 34 per cent during Q1 FY22. Its EBITDA during the April-June quarter rose 8 per cent to Rs 717 crore, while profit after tax was recorded at 484 crore.
The pharma major's R&D spend also rose 16 per cent to Rs 125 crore. The company's India revenue grew 18 per cent to Rs 1,093 crore. As per the AIOCD data, Torrent's Q1 FY22 growth stood at 24 per cent versus IPM growth of 37 per cent. "IPM growth during the quarter includes a high contribution from Covid treatments and a low base last year," the company said.
The company said it launched Covid-19 drug baricitinib during the quarter and is currently conducting clinical trials for molnupiravir. The company's US revenue declined 29 per cent to Rs 266 crore in Q1, while Brazil revenue grew 9 per cent to Rs 153 crore and Germany revenue grew 5 per cent to Rs 260 crore.
Torrent Pharma, with annual revenue of more than Rs 8,000 crore, is the flagship company of the Torrent Group. Shares of Torrent Pharma ended Rs 68.05 or Rs 2.21 per cent lower at Rs 3,011.15 on the NSE on Tuesday.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today